Futuristic Securities Ltd Q3 FY26 – ₹0.02 Cr Quarterly Revenue, EPS ₹0.10, P/E 180×: A 1971-Era Finance Company Still Running on Pocket Change
1. At a Glance
Futuristic Securities Ltd is that one uncle in the finance family who has been around since 1971, owns a suit older than SEBI itself, and still insists he understands the stock market better than everyone else—while running a quarterly business that barely crosses ₹0.02 crore in revenue. Market cap sits at roughly ₹7.18 crore, the stock trades near ₹36.8, and the P/E ratio casually flexes at around 180×, which is not optimism anymore, it’s blind faith with a calculator.
Returns have been a mixed thali: about +12% over one year, +64% over three years, and +19% over five years, which sounds impressive until you remember the base was microscopic. ROE and ROCE hover around 0.7%, which is basically the company whispering, “At least I’m positive this year.” Debt is almost nil, current ratio is a hilarious 93, and yet operating margins keep dipping into negative territory like a bad habit.
Latest quarterly numbers show PAT of ₹0.02 crore and EPS of ₹0.10, which technically is growth, but emotionally feels like finding ₹10 in an old wallet and calling it wealth creation. Still, the stock trades at 5.17× book value, because hope, nostalgia, and scarcity premiums are powerful drugs in smallcap land. Intrigued already? Good. This gets weirder.
2. Introduction – Welcome to the Time Capsule
Futuristic Securities Ltd was incorporated in 1971, which means this company has survived license raj, Harshad Mehta, Ketan Parekh, demat revolution, algorithmic trading, crypto winters, and Instagram finfluencers—all while doing… very little. And that, oddly, is its superpower.
This is not a flashy NBFC with loan disbursements running into thousands of crores. This is not a brokerage onboarding lakhs of clients via apps. This is a barebones finance company, quietly sitting on a tiny loan book, a small investment portfolio, and income streams that look more like side hustles than a full-time business.
Yet, the market continues to assign it a valuation that would make even high-growth fintech founders blush. Why? Because in India, sometimes longevity itself becomes an asset. A listed shell with clean balance sheet, zero debt stress, and promoter holding north of 60% becomes a canvas onto which the market projects future fantasies.
But strip away the dreams, and what you’re left with is a company generating ₹0.08 crore annual revenue, oscillating between small profits and small losses, and surviving largely because it refuses to die. Is this prudence? Is this stagnation? Or is this the calm before some dramatic corporate action that never comes? Let’s dissect.
3. Business Model – WTF Do They Even Do?
At its core, Futuristic Securities Ltd is engaged in shares and securities transactions and finance-related activities in India. Translation: it lends a little money, parks some funds in investments, and earns interest and dividends. No branches. No apps. No aggressive growth plans screaming from investor presentations.
The loan book is laughably small by NBFC standards. Outstanding loans stand at around ₹79 lakh (principal). Inter-corporate deposits in FY24 were about ₹84.76 lakh, actually lower than the previous year. This is not balance-sheet leverage; this is more like lending your cousin money and expecting interest.
On the investment side, the company holds unquoted equity shares of Kores (India) Ltd worth ₹40.29 lakh. No hot startups. No listed blue chips. Just one old-school unquoted investment sitting quietly on the books, probably untouched for years.
Revenue breakup tells the whole story: about 57% from interest income and 43% from dividend income. That’s it. No fees, no trading income spikes, no diversification. This is not a growth engine; this is a parked scooter with the engine idling.
So why exist at all? Because sometimes the goal is not growth—it’s survival, optionality, and keeping the listed entity alive. For investors, this means you’re not buying a business model; you’re buying a possibility.
4. Financials Overview – Numbers That Barely Break a Sweat
Result Type Lock:Quarterly Results (as per latest official heading). EPS is treated as quarterly, and annualisation is done accordingly.
Quarterly Performance Comparison (₹ in Crores)
Metric
Latest Qtr (Dec 2025)
Same Qtr LY (Dec 2024)
Prev Qtr (Sep 2025)
YoY %
QoQ %
Revenue
0.02
0.02
0.02
0.0%
0.0%
EBITDA
-0.01
-0.01
-0.01
0.0%
0.0%
PAT
0.02
-0.01
-0.01
300%
300%
EPS (₹)
0.10
-0.05
-0.05
300%
300%
Yes, the percentages look explosive, but that’s only because the base is microscopic. Going from a small loss to a tiny profit mathematically looks like a rocket launch. In reality, the absolute numbers are still coffee-money.
Annualised EPS: ₹0.10 × 4 = ₹0.40 At a price of ₹36.8, that implies a P/E of ~92× on annualised quarterly earnings, while trailing P/E still floats around 180× due to historical volatility. Either way, this is expensive for a company that grows in decimals.
5. Valuation Discussion – Fair Value Range Only
Let’s humor the valuation exercise, even though the business itself seems allergic to scale.
1) P/E Method
Annualised EPS: ₹0.40
Conservative P/E for sleepy finance company: 15–25×
Fair Value Range (P/E): ₹6 to ₹10
2) EV/EBITDA Method
EBITDA is negative or near zero
EV/EBITDA is meaningless here
Conclusion: This method politely refuses to cooperate.
3) DCF Method
With inconsistent profits, flat revenues, and negligible growth visibility, any DCF would be an Excel crime scene. Even assuming modest growth and discount rates, intrinsic value struggles to justify current prices.
Overall Educational Fair Value Range:₹6 – ₹12
This fair value range is for educational purposes only and is not investment advice.
